Snowflake, Micron, Unusual Machines, and More Stocks That Explain the Market Today

Investors also received another data point on inflation, as the Federal Reserve’s preferred inflation gauge, the PCE price index, accelerated to 3.8% in April, well above the 2% target. The the and the tech-heavy Nasdaq Composite all trended lower Thursday. Balancing the macro trends, Snowflake stock surged 36% after fiscal first-quarter profit smashed Wall Street’s target, potentially dispelling fears that artificial intelligence would destroy its business.